Kentucky Hemp Business & Legal News

Kentucky hemp group urges state to keep old rules – for now

Kentucky hemp farmers are asking the state to hold off on attempts to win federal approval for regulating the new crop. After the U.S. Department of Agriculture (USDA) returned Kentucky’s hemp production plan with an outline of changes that must be made to ensure federal approval for the 2020 planting season, a hemp association asked […]

Read More

Kentucky hemp producer announces layoffs after season of business challenges

A prominent Kentucky hemp company plans to lay off an unannounced number of employees. GenCanna Global, headquartered in Winchester, told Lexington TV station WKYT that market conditions in the hemp industry have led the company to “responsibly resize our staffing levels” to move the company forward. The privately held company did not say how many employees […]

Read More

Amid financing challenges, Kentucky hemp grower lands $30 million bank loan

A Kentucky hemp producer has secured a sizable loan to help grow its business in 2020. AgTech Scientific, a privately held hemp and CBD company in Paris, Kentucky, said it has closed a $30 million business loan with Truist Financial, a Charlotte, North Carolina-based bank holding company formerly known as BB&T. “We are honored to […]

Read More

Kentucky notches fiber first in testing hemp for bridge repair

A Kentucky bridge is the first in the nation to be repaired with hemp fibers, part of a University of Kentucky project to strengthen the state’s aging bridges. Engineering professor Issam Harik led the project, part of a larger effort to study the use of fiber-reinforced polymer composites in bridge repair and building construction. Harik used hemp […]

Read More

Behind the scenes in a Kentucky ornamental powerhouse that converted to hemp

  The new hemp industry is attracting some powerhouse players in agriculture, and Hemp Industry Daily went behind the scenes to see how one of the most intriguing partnerships is going. AgTech Scientific, a hemp company in Paris, Kentucky, has merged with ColorPoint, formerly a large player in the ornamental horticulture industry, supplying garden centers […]

Read More

Canopy, US hemp grower head to court over dismal crop, missed payments

Canadian cannabis giant Canopy Growth and a Nevada-based hemp producer are suing each other in rival federal cases over a bad crop and allegations of missed payments and misspent advances. The cases center on Go Farm Hemp, a Henderson, Nevada-headquartered company that entered contracts to grow hemp in 2019 for Canopy Growth in Colorado, Kentucky, […]

Read More

CBD producer sues Oregon hempseed company for $44 million over ruined crop

A Kentucky-based CBD company filed a $44 million lawsuit against an Oregon hempseed company, claiming the hempseeds it supplied were bogus and contributed to ruining the company’s 2019 crop. Lexington-based Elemental Processing estimated it lost at least $44 million in profits after HP Farms of Troutdale, Oregon, allegedly supplied it with more than 6 million […]

Read More

Top ornamental greenhouse operation ColorPoint making transition to hemp

One of the largest greenhouse operations in the United States is leaving ornamental bedding plant production behind and instead placing its chips on the burgeoning Kentucky hemp industry. ColorPoint, a Paris, Kentucky-based greenhouse operation owned by the industry-leading VanWingerden dynasty, said this week it is selling its 3.6-million-square-foot Granville, Illinois, facility to Red White & […]

Read More

Acknowledging hemp ‘uncertainty,’ FDIC chief says banking rules sufficient

Banks may be hesitant to serve hemp companies because of confusion about marijuana laws, the top U.S. bank insurer says. But that doesn’t mean financial institutions should require a new law guaranteeing hemp banking, said Jelena McWilliams, head of the Federal Deposit Insurance Corp. (FDIC), which insures deposits. McWilliams was asked about hemp banking during […]

Read More